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Unemployment Hits 17-Year Low as Job Growth Rebounds

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Labor market growth rebounded sharply last month and unemployment fell to a 17-year low as the negative effects of Hurricanes Harvey and Irma faded further into the rearview mirror, according to a report published Friday by the Bureau of Labor Statistics.

U.S. employers generated 261,000 new positions last month – their strongest showing since July 2016. October's big winner was leisure and hospitality positions, which dropped off by 102,000 jobs in September as hurricanes battered America's southern coasts. Such outfits ended up generating 106,000 positions last month.

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